2025 Emerging Manager Circle Summit Recap
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Every year, I leave the Emerging Manager Circle Summit humbled. When we started EMC back in 2019, I never intended for it to become what it is today. It was just a few of us sitting in a circle, trading stories about the brutal, beautiful work of building a venture firm from scratch. That spirit has remained sacred. This year’s gathering at the Wythe Hotel in Brooklyn carried that same energy–an honesty that only exists when everyone in the room knows how hard this path really is.
While unintentional, this year’s conversations seem to revolve around a simple premise: What does it take to endure?
The path to building an enduring franchise is non-linear and idiosyncratic, proving once again, that the only playbook is your own. We heard from those who had endured adversity and conflict, only to come out on the other side stronger than ever before. We had others who had to forge their own paths, bursting into an industry that they had originally never considered. Lastly, we had the joy of hearing from some of the LPs who showed conviction and patience to enable leading venture firms to gestate the way they have. Every journey is unique, but perseverance, patience and partnership seem to be the unifying principles tying all great firms together.
As I wrote about last week, I’ve had a year of ups and downs. What has felt like a highly rewarding year of investing and firm building, has been marred by the death of loved ones and mentors. As I reflect upon that, I’m reminded that virtually every year we’ve had as a firm has been a hard year. As an emerging manager, all years are hard years. Even when/if you make it, your attachment to the firm is far more than a job. The endurance it requires to press through is not for the faint of heart and (at least for me) is only possible through the support of others.
What makes EMC special to me isn’t the panels or the production, it’s the shared understanding that this journey is both a privilege and a burden…that the community can support others when they are in a position to do so, but also look to those same faces for support when they need it the most. That’s what REAL community is all about - not the size of the group, but the strength of its bonds.
To everyone who shared their lessons, questions, and vulnerabilities this year–thank you. You reminded us that venture is still, at its core, a people business. We owe a lot to the speakers who gave their time, the volunteers who made the day seamless, our sponsors for generously partnering with us on the event, the many GPs and LPs who continue to invest in this community not just with capital, but with generosity of thought and most importantly, to my fellow colleagues on the Equal Ventures team, who have made both our firm and this community possible.
If you are a LP looking to get more involved in the EMC, please reach me at zullo@equal.vc. If you are a GP who would like to get involved in the community, please fill out the information in the link here. Bringing together a group of this scale and significance is not an easy task, and we’re always looking for additional help to ensure the rising tide of emerging managers, raises all boats.
See you next year!
Rick
PS - We have thus far raised over $12k for the V Foundation! If interested in contributing to the cause, please donate here.
